Mar 30, 2023
Mubadala Eyes Bridgepoint’s $2.5 Billion Dialysis Firm Diaverum
(Bloomberg) -- Mubadala Investment Co. is exploring an acquisition of Bridgepoint Group Plc’s European dialysis clinic chain Diaverum, in a deal that could value the business at about $2.5 billion, according to people familiar with the matter.
The Abu Dhabi sovereign wealth fund is among final bidders competing to acquire Sweden-based Diaverum, the people said, asking not to be identified as the matter is private.
Bridgepoint is making a fresh attempt to find a buyer for the business after an earlier process to list or sell it failed in 2020, the people said. Other bidders could also emerge, and there’s no certainty the deliberations will lead to a transaction, the people said.
A representative for Mubadala declined to comment. A spokesman for Bridgepoint confirmed it’s working with Citigroup Inc. to study strategic options for Diaverum and declined to comment further.
Mubadala, with $284 billion of assets under management, has been stepping up its investments in health care as it seeks to diversify its portfolio. The fund teamed up with buyout firm EQT AB to acquire Swedish medical freight company Envirotainer AB for an enterprise value of about €2.8 billion ($3 billion) last year.
The wealth fund is also among parties looking to back CBC Group as it sets up a new fund targeting health care assets in the Middle East, Bloomberg News has reported.
Diaverum, headquartered in southern Swedish coastal city of Malmo, is one of Europe’s largest independent dialysis clinic operators with more than 400 locations in 23 countries, according to its website. The company also has a significant presence in the Middle East.
Bridgepoint acquired Diaverum from Gambro Holding AB in 2007.
--With assistance from Vinicy Chan.
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